B.Sc. in Islamic Economics, Banking, and Finance (B.Sc. IBE)
The Islamic Online University presents the world’s first tuition-free Bachelor’s Degree program in Islamic Banking and Economics. This degree opens the door to a possible career in an exciting, expanding and beneficial field, and is a stepping stone for further studies. “Allah has permitted trade and has forbidden interest.” (Qur’an, 2:275) In today’s world flooded with interest-based transactions, unlawful bank contracts, and investments the need for Islamic banking is increasing. Many countries have recently seen a rise in demand for Islamic banking services. Analysts expect that at the current rate of expansion, in the next 8 to 10 years the Islamic banking network in the UAE will overtake the conventional banking system. Job opportunities within the Islamic banking field are also on the rise. According to a study by A.T. Kearney, one of the world’s largest management consulting firms, “up to 30,000 new Islamic banking jobs will be required in the Gulf States within the next decade.” While the Middle East still offers growth opportunities there is big potential for growth in countries such as Indonesia, Bangladesh, India, and countries from North Africa and Central Asia which have a substantial Muslim population.